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As a consumer/ citizen, I realize that news people need to talk about something. There has to be numbers or pictures on the screen or otherwise, someone didn't make enough stuff up. Given how easy it is to write sensationalist or run-of-the-mill headlines about the great stock-pogo-stick-ride, is anyone else tired of hearing, "since the DJIA tanked, somebody said something disagreeable..."?
I am tired of having the averages on the stock market toted out as the golden calf statistic that cannot be argued against, in terms of the health of the economy.
And to be absolutely, painstakingly obvious the more I hear "Stock Market Players" gnash teeth, moan and groan, talk about tea parties and presidential-proof investments, and "boo-hoo-hoo, the current big government isn't MY big government, and their taking away my golden parachutes and easy money schemes" the more I smile. While they can see me, I hope. They have drummed whatever sympathy and empathy out of my skull with their relentless drumbeat about bailout this, to-big-to-fail (why did we allow mergers of that size, again?) that, DJIA new low this, historical market performance correlation that. I'm sick of it. I know longer accept it at face value. To me it is more meta-gaming the market, than playing the market. It is playing the game of investment, not calculating which businesses have long-term growth potential, or long-term investments.
The power of the short-term investor has been laid plain. From ENRON to mortgages... playing the numbers instead of the facts costs lots of money in the end.
Am I the only plebe out here that thinks all the investment tears are sweet tonic to all the TARP being thrown about? Am I simply a heartless maniac because I think that Wall St. excesses need to be reigned in? Because the stories from Wall street that I hear, all seem to be about people abusing a system for greed, preying upon the ignorant (not just the stupid, dumb, or innocent... the ignorant, the people that couldn't discern what a CDS was), and making as much money as possible, for themselves... and then crying when their smoke and mirrors didn't pan out.
Isn't that time past? Are we done with our 80's redux? Can we bury the MeFirst excesses of Wall Street and get on with responsible corporate stewardship?
Can ANYONE explain to me, coherently, why all these TITANS of finance are so ridiculously scared pantless about regulations, compensation limits, and oversight? HAVEN'T WE HAD ENOUGH UNCHECKED GREED? HOW IN-DEBT DOES OUR FUTURE NEED TO BE, before these clowns (Cramer, Santorelli or whatever that guy is named) will shut-up??
I have to wonder... if the oil companies hadn't gone manipulating energy costs, would the sub-prime meltdown have happened? If people weren't siphoning monies from their mortgage payments to fill their over-sized vehicles, would the mortgages have been paid, would the credit crisis have ever happened?
I want it to happen, and I hope it ends up like Pennsylvania's liquor distribution.
I grew up in the 80s in Pittsburgh. Moved to CA with the family in the late 80s, but I was entranced by the Penn. State liquor stores. In Pennsylvania any hard liquor needed to be purchased through the state stores. Only those stores had the license to sell liquor, and the time of sale was tightly controlled. It was a nice way to manage the sale of the stuff. California Marijuana stores could work the same way.
Just some random thoughts on the matter:
-State run offices = moar jehrbs! (More Jobs!)
-State run stores buy only from certified growers*
-Certified growers* = Growers permits, and grower taxes (like any industry) = more tax revenues, state conducted quality control, grower land and method control (can enforce sustainable growing practices), distribution control (can mandate local buying only) helps local entrepreneurs.
-Reduced state police burdens, less crimes to prosecute
-Sure lots of non-official distibutors will suddenly need to find jobs, but that's better for everyone.
-Less of a gateway now that its legally distributive, less of chance of "picking up something extra" when visiting a "dealer".
-No loss in paraphernalia stores revenues, people will still need to buy smoking supplies.
I believe that decriminalizing marijuana considerably changes the context with which people interact with the drug. The system of distribution and consumption changes enough to warrant reexamining whether or not old assumptions still exist.